India's PNC Infratech rises after antitrust body clears deal with Jaiprakash Associates

** India's PNC Infratech NSE:PNCINFRA rises as much as 6.7% to two-month high of 325 rupees

** An Indian competition watchdog approves company's proposal to acquire construction company Jaiprakash Associates NSE:JPASSOCIAT

** About 2.9 milion shares of PNCI change hands so far, ~9x of 30-day daily average volume

** Fourteen analysts, which track the company, have avg rating of "buy"; median PT at 378 rupees

** YTD, stock down 2.6%